Factors Influencing the Growth of Greenville’s Real Estate Industry

For a long time, the real estate market in Greenville was nothing but a shadow. Abandoned storefronts and overgrown vegetation were a common sight in the formerly vibrant textile town. However, close to two decades, revitalization efforts in the town saw a complete turnaround. Today, Greenville is a vibrant town full of promise, with small businesses filling empty storefronts.

One of the major forces behind the town's successful revitalization is the influx of major manufacturers to the region. With its central location, low-cost workforce, and business-friendly climate, this town has been bringing in people in great numbers. It's the surge in population that has made Greenville a…

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Reasons for the Architectural Billings Increase in Greenville

Did you know that architectural billings hit the 53.3 mark (the highest ever post-pandemic) last February? Architectural billings are the leading indicator of future construction. There has been an increase in billings since February 2021, which came after the collapse due to the pandemic. It’s worth noting that an ABI score above 50 is an indication of an increase in billing.

The architectural billings realized a positive rate that is slightly higher than the normal national rate in the South because most states in the South bounced back to business earlier than the rest of the U.S. 

Why Architectural Billings Increased in Greenville

Greenville has been on its knees for the last…

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Thriving Competition in Greenville’s Real Estate Market

There is a low supply of houses in Greenville, South Carolina, right now. In some cases, it’s bad business if supply can’t meet demand. In the case of one of South Carolina’s stunning housing markets, supply and demand are both competitive. Homeowners and investors in Greenville have ample opportunities to buy or sell. What’s a challenge, however, is the leeway that you have when bargaining your buy or sell price. Right now, the market is tight. 

Why Is Greenville’s Housing Market So Hot?

In a tight housing market, the pressure of buyers and sellers is competitive. The results are prices that sit at a specific range. You won’t have the chance to save a lot by lowering prices. In typical…

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How Affordable is Real Estate in Greenville?

Greenville, SC, is an affordable place to live. The median home price rose about 10% (2020-2021) to about $280,000, while the U.S. median home price remains above $400,000. However, other factors are also involved in housing affordability other than just prices. Affordability can vary widely within markets, even within cities. The main affordability factors are housing costs (prices), income levels, and the number of buyers relative to listings. Greenville has an advantage because it's growing fast. This growth provides more employment opportunities than other large Southern metros like Atlanta, Dallas, or Charlotte. Job growth was at 4% between 2014 and 2017.

Relative Number of Buyers to That of House…

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Industrial Factors Responsible for Greenville’s Economic Growth

In the past years, Greenville’s economy solely depended on textile manufacture. It was such a successful industry that Greenville was named the "Textile Capital of the World." Today, Greenville’s economy has diversified. New industries and companies have been established, and the city’s economy is thriving. Here are some of the factors responsible for Greenville’s economic growth.

Technology

Technology is the backbone of many thriving companies in Greenville. These companies use technological resources as a means to produce goods and services innovatively and efficiently. Apart from these, technology has also led to significant economic growth and development in Greenville. It has…

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The Strong and Steady Housing Market in Greenville

Over the years, more and more people have become interested in the real estate market. That's because, if everything goes well, it can turn out to be a lucrative investment. Among the areas with a strong and steady housing market is Greenville, South Carolina.

Located in one of the fastest-growing areas in the United States, Greenville stands tall as one of the leaders in today's economy. The area has evolved from being a majorly agricultural and textile economy to one of the fastest-growing cities in the country. Since June 2011, Greenville has seen an increase in jobs, permits as well as home prices.

In fact, it is reported that Greenville has seen one of the longest consecutive stretches of…

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